The main target of his ire is white monopoly capital, which is puzzling, because this group has little control over the broader policy and investment environment. The government controls this, and the blame for SA’s economic problems should be laid at its door.

Ndlozi repeats the myth that SA has in general suffered from jobless growth, especially under former president Thabo Mbeki. Our most recent report on progress since the end of apartheid shows that SA enjoyed something of a golden age between 2004 and 2007. The economy grew at 5%, income grew and jobs were being created.

One of the reasons for growth was that the economy was far freer.

To escape recession, we must stop advocating for a greater role for the state in the economy and stop blaming non-existent bogeymen.

What we need are strong property rights, a system of empowerment based on disadvantage rather than race, a change in labour relations and a concerted effort to fix the education system.